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Samsung heirs to pay record $13 billion in tax, will donate Picasso art to settle bill This inheritance tax bill is the country s highest ever On Wednesday, the heirs of South Korea’s Samsung corporation revealed plans to pay more than $10 billion USD (about $12.3 billion CAD) in death taxes, including contributing Picasso and Monet artworks, in one of the world’s largest-ever inheritance tax settlements. Late Samsung Electronics Chairman Lee Kun-Hee was South Koreaâs richest person when he died last October at 78. He left behind an estimated 22 trillion won ($24 billion CAD) in assets. South Korea’s strict inheritance tax laws (50 percent) and high tax rates have resulted in a hefty bill for the heirs, including Samsung’s Vice Chairman, Lee Jae-Yong, who is presently serving a prison sentence for embezzlement, bribery and other offences. ....
Tom Arnold (Adds quote from Invesco) LONDON, Feb 23 (Reuters) - Sovereign wealth funds pulled $16.3 billion from public market investment strategies, largely equities, in the fourth quarter, the most in almost four years, driven largely by redemptions, according to data and research firm eVestment. The move followed a year in which some funds, including those from Norway, Azerbaijan and Kazakhstan, planned withdrawals to help their governments cope with the coronavirus crisis. Net outflows from equity strategies managed by third-party fund managers reached $18.5 billion in the final three months of 2020, eVestment data showed. Global equity markets closed 2020 around record highs after a stimulus-charged rebound helped stocks surge more than 60% from their March lows. ....
Sovereign wealth funds pulled $16.3 billion from public market investment strategies, largely equities, in the fourth quarter, the most in almost four years, driven largely by redemptions, according to data and research firm eVestment. ....
Sovereign wealth funds pulled $16.3 billion from public market investment strategies, largely equities, in the fourth quarter, the most in almost four years, driven largely by redemptions, according to data and research firm eVestment. ....
LONDON (Feb 23): Sovereign wealth funds pulled US$16.3 billion from public market investment strategies, largely equities, in the fourth quarter, the most in almost four years, driven largely by redemptions, according to data and research firm eVestment. The move followed a year in which some funds including those from Norway, Azerbaijan and Kazakhstan, planned withdrawals to help their governments cope with the coronavirus crisis. ....